The last of the Insuring Children series is being postponed in order to provide you with the August 19, 2010 announcement from CRTC.
For Canadian advisors, James Langton’s complete article Advisors must abide by same rules as all telemarketers: CRTC
However, if you only want to know the bottom line, here are a few key excerpts:
“The CRTC ruled Thursday (August 19, 2010) that not all telecommunications by advisors should be exempt from the telemarketing rules, since existing clients may not expect to be called in all circumstances. Calling clients about their existing investments is different from calling them to pitch new products, the regulator found.”
“In its decision, the CRTC said that while financial advisors and insurance agents have an obligation to communicate with their clients in certain circumstances, there is no obligation to do it by telephone. And, there is no evidence that this obligation requires them to communicate with clients outside of the telemarketing rules – by calling outside certain hours, not identifying themselves during the call, and not accepting do not call requests from their clients.”
“…the CRTC amended its interpretation and ruled “that unsolicited telecommunications made by investment or financial advisors and insurance agents or brokers to existing clients to sell or promote their respective products or services constitute telemarketing telecommunications under the rules. Consequently, the rules are to apply equally to the financial and insurance industries, and in the same way they apply to all other industries.”
“Advisors can still contact existing clients who are registered on the National Do Not Call List under the existing business relationship exemption, but they will have to abide by the telemarketing rules when making telemarketing and other unsolicited communications with these clients, it added.”
I coach Advisors, as well as those who attend Insurance Know-How! training, to learn how to use these rulings compliantly to the benefit of their clients and their practices!
Cheers, Helena
p.s. There’s still time to reserve your seat for September 15 Insurance Know-How 1- day intensive in Vancouver at the Terminal City Club! Register by clicking http://www.insuranceknowhow.ca/life-insurance-training
p.s.s. Insurance Know-How Training is now C.E. approved for up to 7 C.E. credits through Canada’s new and rigorous approval process with the CLU Institute.
p.s.s.s. Watch for new Insurance Know-How COACHING packages coming online in the next few weeks – these services will help you expand your insurance business!
Tags: dnc, do not call
Helena Smeenk Pritchard
Helena Smeenk Pritchard has over 36 years of experience in the insurance industry and is the Principal of Helena Smeenk Pritchard & Associates, a leader in “Insurance Know-How” training. Helena has had articles published in Advocis’ Forum Magazine as well as Advisor’s Edge, and is a very popular columnist for Advisor.ca.
